Enterprise Fund

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LAIKIPIA COUNTY ENTERPRISE FUND


INTRODUCTION
The fund was established through an enactment of the Laikipia County Enterprise Fund Bill into law on the 19th June 2014. It was gazzetted through legal notice no. 18 10 of 2014.
Amendment of the same Act was done on 29th June 2017 and regulations on 13th March 2018.
MANDATE
To create 30,000 employment opportunities in the private sector by 2022 by starting new and expanding existing SMEs across the county by raising its loan portfolio to the tune of Kes 300 million.
PURPOSE OF THE FUND
1. To assist micro and small enterprise owners access credit for business capital
2. To promote enterprise development in youth, women, persons with disability and needy persons.
3. Facilitating a favorable environment for appropriate business and entrepreneurial growth.
4. Job creation
5. To enhance entrepreneurial skills by providing training in enterprise and business development
6. Providing technical assistance, in product and market development.
7. Promoting local economic growth by supporting innovators and developing home based local industries
ADMINISTRATION OF THE FUND
The fund is managed by a board. The role of the board is to approve loans for beneficiaries. The fund manager is in charge of the day to day affairs of the board. The ward officers (County Development Authority- CDAs) are in charge of their respective wards.
The Board consists of 8 members namely:-
a) A non-executive chairperson appointed by the Governor
b) The Chief Executive Officer Trade, Tourism and Development.
c) The Chief Executive Officer Finance
d) The Chief Executive Officer Education, Sports, Youth and ICT (Representing youth affairs)
e) One person representing persons with disability nominated by the joint forum of micro and small enterprises organizations of persons with disability
f) One person representing women nominated by the joint forum of women micro and small enterprises
g) One person representing the youth nominated by the joint forum of micro and small enterprises youth organizations
h) The fund manager who shall be an ex officio member and secretary to the Board.

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